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An amount of nearly C$758 million (US$565.3 million) was collected by C-NLOPB in work commitments from operators that intend to explore the promising frontier region.

A minimum amount of C$10 million was required for the bidders to offer in work commitments for an initial nine-year license.

A total of six parcels were awarded by the C-NLOPB off eastern Newfoundland for the seven bids made in the licensing round.

The bid for the 233,654-hectare Parcel 3 was the biggest and attracted C$276.3 million. The parcel will be operated by BP’s Canadian subsidiary with a stake of 50%. Other partners in the parcel are Hess Corporation (HES - Free Report) and Noble Energy, Inc. (NBL - Free Report) , each with 25%.

The three parties – BP, Noble Energy and Hess – also joined in to bid about C$125.2 million on the 252,482 hectare Parcel 8 as well as committed C$12 million to the 192,807 hectare Parcel 4.

SunCoke Energy posted a positive earnings surprise of 177.78% in the preceding quarter. It reported a positive earnings surprise in three of the four preceding quarters.

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